YEREVAN, August 29. /ARKA/. In June, 2023 net money transfers from Russia were 33 percent lower than in June 2022, but still three times higher compared to June 2021, according to World Bank’s ‘Armenia monthly economic update – august 2023.’
It says in net terms, money transfers amounted to USD 130 million in June 2023, 2.7 times higher than in May, but 15 percent lower than the average for the last five months. Money transfer inflows and outflows both show significant fluctuation .
According to the Central Bank of Armenia, remittances from the Russian Federation totalled $2.1 billion in the first six months of this year compared to $1.1 billion in the same period last year. -0-
